**PRINCIPAL        FINANCIAL OFFICER CERTIFICATION**

|   | a. | Designed                    such disclosure controls and procedures, or caused such disclosure                    controls and procedures to be designed under our supervision,                    to ensure                    that material information relating to the Registrant, including                    its                    consolidated subsidiaries, is made known to us by others within                    those                    entities, particularly during the period in which this annual                    report is                    being prepared; |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Evaluated                    the effectiveness of the Registrant’s disclosure controls and procedures                    and presented in this report our conclusions about the effectiveness                    of                    the disclosure controls and procedures, as of the end of the                    period                    covered by this report based on such evaluation;                    and |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | Disclosed                    in this report any change in the Registrant’s internal control over                    financial reporting that occurred during the period covered by                    the annual                    report that has materially affected, or is reasonably likely                    to materially                    affect, the Registrant’s internal control over financial reporting;                    and |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | All                    significant deficiencies and material weaknesses in the design                    or                    operation of internal control over financial reporting which                    are                    reasonably likely to adversely affect the Registrant’s ability to record,                    process, summarize and report financial data;                    and |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Any                    fraud, whether or not material, that involves management or other                    employees who have a significant role in the Registrant’s internal control                    over financial reporting. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|         | **COMPANHIA                    DE BEBIDAS DAS AMÉRICAS                    -****AMBEV**               |
|    |                                                                                                 |                                                             |
|         | By:                                                                                             | /s/ Carlos                  Alves de Brito                       |
|         |                                                                                                      | Name:                  Carlos                  Alves de Brito         |
|         |                                                                                                      | Time: Chief                  Executive Officer for North America |
|         |                                                                                                      |                                                                  |
|         |  By:                                                                                                 |  /s/Luiz                  Fernando Ziegler de Saint Edmond       |
|         | Name:                  Luiz                  Fernando Ziegler de Saint Edmond                             |
|         | Title:                  Chief                  Executive Officer for Latin                  America  |